Obamacare Upheld By U.S. Supreme CourtJune 28, 2012 @ 10:36 AM EST
Supreme Court Upholds Obamacare Mandate
Although there is a fair amount of confusion on the issuance of the Supreme Court’s decision, it appears that the core components of Obamacare have been upheld.
The major focus was on what is termed the “individual mandate,” which is the part of the law that forces individuals to buy health insurance or face a tax/penalty. This was the primary part of the law that opponents felt was unconstitutional.
However, it appears that the Court is using Congress's power to tax and regulate interstate commerce as justification for upholding the individual mandate portion of Obamacare.
The decision was somewhat of a surprise as Intrade had put the odds at SCOTUS overturning this part of the law at nearly 70% as late as Thursday morning.
It was also surprising that Justice Roberts appears to have sided with the liberals on the court in this decision, as the vote was 5-4.
Stocks have moved lower on the news as Obamacare has been cited as being a major stumbling block to hiring.
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